Vince Goodrum's "Fuck That Shit, I Got A Better Idea" Threads

[Henda]

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Haha have you got the one of him getting spayed for lice?

[Vince G, CSN MFT]

8.5% interest for the home....final.  That's the lowest I can get on a 50k loan.   I did make some changes on design for the TV.  As much as I like the Samsung Frame, it is simply not a good value for what its being charged and the artwork novelty will wear off....so I will keep my present TV at home.


I do need to figure out a stereo system.  I did get ahold of a Bose Lifestyle 5 system and speakers but I'm going to search around for some other products.  I want to have the most crisp sound in the house

[WalterWhite]

8.5% interest for the home....final.  That's the lowest I can get on a 50k loan.   I did make some changes on design for the TV.  As much as I like the Samsung Frame, it is simply not a good value for what its being charged and the artwork novelty will wear off....so I will keep my present TV at home.


I do need to figure out a stereo system.  I did get ahold of a Bose Lifestyle 5 system and speakers but I'm going to search around for some other products.  I want to have the most crisp sound in the house

I have a Marantz receiver I run my surround through and it's awesome.

[IronMagazine.com]

8.5% interest for the home....final. 

jesus!

[Parker]

jesus!

Mary and Joseph. That's still high.

[be back]

8.5% interest for the home....final. 

high risk borrower of peace....

[calfzilla]

“Rich people acquire assets. The poor and middle class acquire liabilities they think are assets” (Rich Dad, Poor Dad – Robert Kiyosaki).

[Agnostic007]

8.5% interest for the home....final.  That's the lowest I can get on a 50k loan.   I did make some changes on design for the TV.  As much as I like the Samsung Frame, it is simply not a good value for what its being charged and the artwork novelty will wear off....so I will keep my present TV at home.


I do need to figure out a stereo system.  I did get ahold of a Bose Lifestyle 5 system and speakers but I'm going to search around for some other products.  I want to have the most crisp sound in the house

I have a couple systems. I have the Bose system in the man cave. If you already have it.. just keep it. It will work for you. If you HAVE to buy something else there are soooooo many better options available at that price point. When the Bose system craps out, I will not replace it with Bose.   

[Coach is Back!]

FHA doesn't originate loans so not sure you checked with them

Lending Tree and all those other sites suck too

You're a veteran so call USAA (I told you this already)
https://www.usaa.com

100k @ 3.875% (on a VA loan) gives you a monthly payment of $ 470.23

50k @ 10.42% (on that shit loan you were offered) gives you a monthly payment of $ 454.38

Aren't you making something like 60k a year in your IT job or whatever it is you do (I can't recall) ?

Forget about trying to find something "cheap"

Try finding something that is a value and a real house that will last and actually appreciate in value and not some glorified mobile home

Even better, go find a duplex or tri-plex and rent out the other units (not sure if VA will allow a tri-plex but I think FHA will)

That payment doesn't include PITI. With that added in he's looking at right around $900-1000.00 which is still a great payment. A quick calculation of what he can (or anyone) technically afford depending on LTV. If Vince is grossing $70k you can take his yearly x 3.3 = $231,000. If he puts down 20% ($37,800) obviously his loan amount will be $151,200 and a much lower payment and will probably reduce his interest rate. This is on a 30 year.

[Agnostic007]

“Rich people acquire assets. The poor and middle class acquire liabilities they think are assets” (Rich Dad, Poor Dad – Robert Kiyosaki).

Yeah, I said that, I got shot down.. So I went on vacation to a warmer climate, drank margaritas and contemplated how I failed and what advice I should have given him

[Agnostic007]

That payment doesn't include PITI. With that added in he's looking at right around $900-1000.00 which is still a great payment. A quick calculation of what he can (or anyone) technically afford depending on LTV. If Vince is grossing $70k you can take his yearly x 3.3 = $231,000. If he puts down 20% ($37,800) obviously his loan amount will be $151,200 and a much lower payment and will probably reduce his interest rate. This is on a 30 year.

You missed the part where its a V.A loan at 0% down..

[Agnostic007]

Vince is young, he's what.. 28, 29? He'll survive this bad investment and learn the hard way. Many of us have. It's like a broken arm, vs a broken back. He will recover and look back on this 20 years from now as one of the lessons in life. We've all done it at one time or another.  

[Mobil]

Vince is young, he's what.. 28, 29? He'll survive this bad investment and learn the hard way. Many of us have. It's like a broken arm, vs a broken back. He will recover and look back on this 20 years from now as one of the lessons in life. We've all done it at one time or another.  

didnt know Vince was in his late 20s....looks much older... i feel young now

[Coach is Back!]

You missed the part where its a V.A loan at 0% down..

Didn’t he mention that the lowest he could get was 8.5%? VA is 3%? Is FHA still 5%?

[Agnostic007]

Both...make double payments and a lump sum at the end....I'll likely pay it off sooner with my business profits.   I was going to put 15k down but I would have been under the 50k range.   Instead I'll be putting down $2,750 and put the rest in the bank for now.  In any event, 556.61 a month for a home is good.  The amount also includes setup, delivery, and clearing the land.

Coach, we were both off.. it's almost zero down but not quite.

[Coach is Back!]

Coach, we were both off.. it's almost zero down but not quite.

Wait? I missed this part where he mentioned “set up, delivery and land” are we talking about a trailer (like a double wide)?

[Agnostic007]

Wait? I missed this part where he mentioned “set up, delivery and land” are we talking about a trailer (like a double wide)?

pretty much except its a single wide Manufactured home,, but yeah

[Coach is Back!]

pretty much except its a single wide Manufactured home,, but yeah

Why? It would lose value. The land as well. Is the land leased?


Vince, what are you thinking?

[calfzilla]

Why? It would lose value. The land as well. Is the land leased?


Vince, what are you thinking?

We've been down 14 pages of that road. Just let it be.

[Agnostic007]

Why? It would lose value. The land as well. Is the land leased?


Vince, what are you thinking?

He's thinking like most of America that don't have savings and are in debt. Don't be too hard on him

[Agnostic007]

We've been down 14 pages of that road. Just let it be.

You're not wrong, but it's like watching that St. Bernard walking out on ice in a pond to retrieve a ball and you just know it's gonna fall through..

[Coach is Back!]

Vince, save your money. Put a down a nice down payment and unless you plan on living in the same place for the rest of your LIFE, get into a home that will bring you an investment (equity). You’re smarter than this.

[Vince G, CSN MFT]

didnt know Vince was in his late 20s....looks much older... i feel young now

I'm in my 40's....

[Agnostic007]

didnt know Vince was in his late 20s....looks much older... i feel young now

I'm just basing that off his pattern of financial decisions, I could be wrong

[Agnostic007]

I'm in my 40's....

Oh... then never mind..